TVC:GOLD Gold price struggles to capitalize on the previous day's goodish rebound from the 1,930$-1,935$ area, or its lowest level since March 17 and oscillates in a narrow trading band through the Asian session on Friday.
Gold prices have displayed a breakdown of key support drawn from the March 22 low at 1,935$ on a four-hour scale. The precious metal tested the zone below 1930$ for the first time in three months.
The 200-period exponential moving average (EMA) is declining at 1968$ indicating that the long-term trend is bearish.
The Relative Strength Index (RSI) (14) has slipped into a falling range of 20.00-40.00, which suggests bearish momentum has been triggered.
I expect a strong bounce in TVC:GOLD around the 1977-1980 zone. Then we will have a very good buy TVC:GOLD signal in 1954-1958 zone. My expectation when TVC:GOLD falls will be around 1970
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